Connected Car
MILAN (Reuters) - Carmaker Stellantis and iPhone assembler Foxconn plan to create a joint venture to supply in-car and connected-car technologies across the auto industry, they said on Tuesday. Slideshow ( 4 images )The two companies have signed a non-binding memorandum of understanding to form Mobile Drive, a 50-50 joint venture based in the Netherlands focused on infotainment, telematics and cloud service platform development. Stellantis Chief Software Officer Yves Bonnefont said the decision to enter a joint venture with Foxconn was mainly driven by the need to move fast and to access the best expertise available. Mobile Drive will operate as an automotive supplier, aiming to provide software systems and related hardware both to Stellantis and other interested automakers, the companies said in a joint statement. Milan-listed shares in Stellantis were up 0.9% by 1120 GMT, slightly outperforming Milan’s blue-chip index.